When you apply for a Direct PLUS Loan, the Department will check your credit history. To be eligible to receive a PLUS loan, you must not have an adverse credit history. If you are determined to have an adverse credit history, you may still receive a Direct PLUS Loan if you obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan. If you are a parent borrowing on behalf of your dependent student, the endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan. In some cases, you may also be able to obtain a Direct PLUS Loan if you document to our satisfaction that there are extenuating circumstances related to your adverse credit history.
California public two year institutions have the lowest enrollment fees and tuition in the nation. As such, annual recommended loan limits have been established by the colleges within the Coast Community College District in accordance with regulatory guidelines affecting the Direct Loan Programs to guide students with their borrowing needs.
The cumulative total recommended loan limit for students within the Coast Community College District is $15,000. This is to ensure students have enough remaining loan funds to complete their undergraduate degree at a four-year institution. Students should discuss their loan needs with a financial aid staff member if their need is more than the recommended amount. Students who have reached the total recommended amount may file an appeal with the financial aid office at their respective campus for consideration. The loan amount may be adjusted based on the outcome of the appeal. The amount of financial aid a student may receive cannot exceed the student's cost of attendance (COA) or budget. Your student budget is located on your online financial aid file. If your expenses over and above the budget, please schedule an appointment to meet with a financial aid specialist at your campus.
Generally, you'll have from 10 to 25 years to repay your loan, depending on which repayment plan (there are several) you choose.
The Direct Loan Servicing Center will notify you of the date your first payment is due. If you do not choose a repayment plan, we will place you on the Standard Repayment Plan, with fixed monthly payments for up to 10 years. Most Direct Loan borrowers choose to stay with the Standard Repayment Plan, but there are other options for borrowers who may need more time to repay or who need to make lower payments at the beginning of the repayment period.
You can change repayment plans at any time by going to the Direct Loan Servicing Center's website and logging in to your account.